Mark Jackson, CFANortel ASNTEL.TOWEAK BUYApr 13, 2005
Has taken a small position in this. It has sold off so much that there may be an opportunity from this level although would consider it a toe-in. A speculative play. May be some positive news flow.
If you own the stock, you are playing that there is some value in the assets they own. The company is not a going concern. Have a huge deficit hole in their pension plan. Individual parts of the company may be better being sold off.
Has about $4 per share in cash. They are thinking of selling an asset that would raise about another $1 billion, which would add another $2 per share in cash. However, the overall quality of the balance sheet is as bad as he has ever seen it. Speculative.